Overview

The Company is focused on its 100% owned Lingman Lake Gold Project and regional exploration of its property located in Northwestern Ontario. The huge property package hosts multiple regional gold discovery potential. The property is over 24,000 hectares, 32 km EW strike distance covering approximately 85% of the entire Lingman Lake Greenstone Belt.

The Company filed its initial resource estimate on July 31, 2025 with the NI 43-101 Technical report of the Lingman Lake Mine Project effective May 31, 2025.   The Mineral Resource Estimate assumed a cut-off grade of 0.30 g/t resulting in an Indicated resource category of 95,200 ounces of gold at a 1.38 g/t Au average grade and an Inferred resource category of 674,320 ounces of gold at a 1.14 g/t Au average grade.  

When looking at the sensitivity to cut-off grade, the significant amount of higher grade material near surface supports a notable 531,000 ounces at an average grade of 1.99 g/t when the cut-off grade is increased to 1.00 g/t which makes for a nice starter-pit scenario when contemplating mine construction.

In addition, it is important to note that much of the drilling prior to our 2024 drill program was assayed on a selective basis as it was only targeting high-grade intercepts which resulted in the model assigning a zero value in areas that were not assayed.  In our work completed in 2024, the Company demonstrated that there is a lower grade halo of mineralization around the higher grade intercepts which would imply that with infill drilling we should be able to convert some of those blocks carrying near zero values into low grade values.   The section below demonstrates why the increased cut-off grade still results in a significant amount of gold with the “hotter” colors near surface indicating the higher grade blocks.  The grey blocks in the modeled zones represent very low gold values that could be upgraded with in-fill drilling.  It also shows that the modeled gold zones continue through the bottom of the conceptual pit shell supporting the conclusion that the deposit remains open at depth. 

The graphic below shows the modeled blocks of the mineral resource estimate based upon grade bins.   The mineralized blocks at the 1.0 g/t cut-off grade are represented in red.  In addition, you can see a number of mineralized blocks outside the conceptual pit shell that can be captured as the pit shell is expanded.

While the recent activity has been focused around the original Lingman Lake property the land package has significant regional opportunities for the Company to explore. Airborne geophysics and data compilation work completed in 2021 on the entire land package identified over 14 high-potential targets indicating the potential for multiple gold occurrences warranting follow-up.